The ongoing crypto bear market has tested the patience of many investors, with bitcoin down over 70% from its all-time high and altcoins bleeding out even more. But according to crypto analyst Miles Deutscher, this challenging environment actually presents opportunities for those with conviction and a long-term view.
In a tweet today, Deutscher asserted that the current conditions are typical of this stage in the bitcoin cycle. “We’re in the most difficult market phase, where capitulation really starts to set in,” he wrote. “Sustained bleeding impacts investor confidence more than a swift decline.”
With bitcoin dominance rising as altcoins get “smashed” and liquidity drying up, most retail investors have disappeared. Deutscher acknowledged that it’s the worst time to opt out. “We’re entering a pivotal accumulation phase, where every dollar needs to be allocated wisely,” he said.
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The analyst advised taking a “top-down approach” starting with Bitcoin and Ethereum before moving down the risk spectrum. “Now isn’t the time to ape blindly into low-quality assets,” he cautioned. “If you take one thing from this post, remember this: ‘When trying to make money, act slowly. When trying to preserve money, act quickly.'”
Deutscher recommended being selective and patient in building positions for the next bull run. “Many of next cycle’s top performers likely aren’t even released yet,” he noted. While it’s tempting to try to catch the bottom, he advised against exhausting liquidity too early.
With bitcoin currently trading around $26,800, down 3% this week, the crypto winter drags on. But Deutscher remains upbeat about future opportunities. “The next 6 months will separate the sheep from the goats,” he tweeted. “You can either choose to succumb to the market, or persevere and reap the rewards on the other side.”
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